D.R. Horton and Centex Profits

Dallas’ own real estate fate is still hazy, but the nationwide bubble burst has put the hurt on locally based homebuilders. For the first time in 28 years, Fort Worth-based D.R. Horton reported a year-to-year quarterly profit loss, when earnings for their third quarter, ending June 30, fell 21 percent short of last year’s numbers ($292.8 million down from $371.7 million). Similarly, Dallas-based Centex’s profits for their fiscal first quarter, also ending June 30, fell 31 percent ($160.3 million down from $233.7 million in 2005), hurt by a 21 percent slip in home orders. A look at the recent numbers:

 

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